Global health care spending is projected to reach $10.06 trillion by 2022. There are several factors that can explain the dramatic increase in spending such as growing and aging global population, rising life expectancy, and increasing incidents of diseases. In the last five years, over 14,000 companies have been created in the healthcare industry as entrepreneurs around the world rush to this growing industry to develop innovative solutions. Investors have followed — total funding in startups in the last five years is over $75 billion. As the industry evolves, we wanted to recognize the leading startups within health technology. In part one, we revealed the top consumer health startups. In this article, part two, we will explore startups focused on enterprise health technology and healthcare information technology.
Top 10 Health Tech Startups
Enterprise Health Technology
Unmind is a mobile based mental health program helping employers improve the mental wellbeing of their employees. The platform provides monitoring and training tools to help in reducing stress, enhancing sleep, and improving focus as well as uses a chatbot for increasing user engagement.
Lumity is a data-driven platform that simplifies complex health plans and benefit decisions. Lumity helps employers benchmark, negotiate, implement, and manage health plans and benefits as well as provides employees with personalized recommendations and education on health plan and benefit options. The best part is that Lumity is free for customers since they operates on a revenue share model with health insurance providers.
Incentfit allows employers to offer a fitness benefit that rewards employees with cash for performing a wide array of physical activities. The system handles activity verification and payment disbursements, which means no administration is required by the employer.
Medput, offered as an employee benefit, provides a unique financing solution for employees to cover their medical expenses. Employees upload medical bills and Medput audits the bills, pays for them, and the amount is recovered through payroll deductions. As a result, MedPut allows employers to move to self-insured health plans and reduce expenses.
Dayzz, a mobile app, uses smart monitoring devices, mobile behavior technology and sleep assessment questionnaires to provide users personalized sleep training plans. Dayzz offers their services to employers to support their employees and reduce costs by enhancing performance in terms of increased productivity, fewer accidents and days off work, and decreased healthcare utilization.
Healthcare Information Technology
6. Kheiron Medical
Kheiron Medical has developed artificial intelligence technology aimed at assisting in breast cancer diagnosis. Thei technology is intended to act as an independent reader alongside human radiologists to help reduce errors in breast cancer detection. It also tackles the current problem around the shortage of staff needed to accurately interpret mammograms.
7. Luminate Health
Luminate Health, a HIPAA-compliant SaaS solution, provides labs an easy and cost-effective way for patients to access, manage, and understand their lab results. They provide personalized engagement tools and reports to help patients manage their own health.
Physitrack has developed a platform to onboard, engage, and educate patients to make the rehabilitation process clear and promote recovery. Patients can access their prescribed exercise programs via the free PhysiApp allowing physiotherapists, remedial therapists, and chiropractors to deliver patient-centric care through real-time insight.
X2AI uses artificial intelligence to help psychologists monitor, remind, and actively care for their patients. Tess, X2AI’s mental health chatbot, coaches people through challenging times to build resilience by having text message conversations – similar to talking to a friend or coach.
Eko offers an AI-based platform for remote monitoring of cardiac health. Eko has developed the world’s first combined ECG and Digital Stethoscope which enables clinicians to quickly take a more comprehensive view of cardiovascular function avoiding a more invasive, costly, and time consuming check-up.
Innovation in HealthCare
Healthcare is on the heels of breakthrough innovation. Technology can help better medical devices, treatment plans, healthcare delivery, preventative care, and information efficiency. Now is a time for government agencies, corporations, and startups to come together to transform our healthcare system.
Could a health tech startup help to bring efficiency and innovation to your organization?
RocketSpace's experienced Corporate Innovation Services team can help you identify potential ways in which a health tech startup can transform your business as well as find the perfect startup partner to accelerate your innovation efforts. For healthcare organizations and corporations interested in learning more about how they can be an integral player in the future of healthcare contact RocketSpace's corporate innovation services team.